SAMA approves first insurance product for autonomous vehicles

14/11/2021 Argaam

Logo of SAMA

Saudi Central Bank (SAMA) approved the first-of-its-kind insurance product to cover autonomous vehicles (AVs) and the related risks in the local insurance sector.

 

The new product provides insurance coverage of autonomous vehicles (AVs) that can drive themselves from a starting point to a predetermined destination in 'autopilot' mode using various in-vehicle technologies and sensors, including adaptive cruise control, Anti-lock Braking System (ABS), Global Positioning System (GPS), and laser techniques in the locations licensed by the competent authorities.

 

The move supports providing innovative insurance products to keep abreast with the latest technology and industrial developments I the Kingdom, in line with Vision 2030.

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